97.07 to 88.7: what an 8.62% SOL range on Bitunix did to each leverage level during Thursday's long flush

Beginner tier. Bitunix SOLUSDT figures below were pulled from the public Bitunix futures market data at 3:55 PM ET on Nov 5, 2026.

1. What happened

• A sharp sell-off in US tech and AI stocks spilled into crypto on Thursday. Market-wide, about 1.09 billion USD of leveraged positions were liquidated over 24 hours, hitting about 211,000 traders.
• BTC, ETH and SOL all gave back their post-election gains. TRUMP hit an all-time low after a 20% slide over two days, and HYPE fell with the rest of the majors.
• On Bitunix, SOLUSDT printed a 24h high of 97.07, a 24h low of 88.7, and a 24h open of 94.54.
• The 10:00 AM ET hourly candle opened at 92.96 and reached 89.15. That is a 4.10% drop inside one hour.
• At 3:55 PM ET the mark price was 90.24, 4.55% under the 24h open.

1. The rule, beginner version

On an isolated position your margin is notional / L. A move of about 1/L against you uses up all of that margin. The exchange closes you before you hit zero, because part of the margin is held back as maintenance margin, and fees come out too. So the real liquidation line sits a little closer to your entry than 1/L.

1. The formula

move_that_wipes_margin ~ 1 / L (simplified: no fees, no maintenance margin) approx_liquidation_long ~ entry x (1 - 1/L) (the real line sits slightly above this)

1. Thursday's numbers, step by step

1. A long from the 24h high, 97.07, to the 24h low, 88.7, faced an 8.62% move against it.
2. It survives only while 1/L is bigger than 8.62%. That means L below about 11.6 (1 / 0.0862). Above that, the margin was gone, and fees plus maintenance margin push the cutoff even lower.
3. A long opened at the 10 AM candle open, 92.96, faced 4.10% down to 89.15. The cutoff there was L of about 24.4 (1 / 0.0410).
4. The SOLUSDT contract allows up to 100x. At 100x, 1/L is 1%. Most hourly candles on Thursday moved more than that.
5. Funding at 3:55 PM ET was 0.007012% per 8h, paid by longs. Next to an 8.62% range it barely registers.

1. What moves your line

• Cross margin: the whole futures balance backs the position, so the line moves with your balance and with your other positions. More buffer for one trade, more of the account at risk.
• Adding margin to an isolated position pushes the line further away.
• Maintenance margin and fees pull the real line closer than 1/L.
• Funding payments shave margin over time. Tiny at 0.007012%, but they add up on long holds.

1. Common mistakes

• Picking leverage first and position size second. Size the loss you can take, then let L follow.
• Treating the 24h low as the worst case. It was the worst case for Thursday, not for Friday.
• Using the maximum leverage because the slider allows it.
• Placing a stop so close to the liquidation line that a single fast candle skips past both.

1. FAQ

Is 10x safe on SOL? Leverage is not a safety label. On Thursday, 1/10 is 10% against an 8.62% range, so a long from the exact high survived, by a thin margin and before fees.

Why did shorts mostly survive? The move went one way. Market-wide, 818.90 million USD of the 879.92 million USD liquidated in a four-hour window was longs.

Does lower leverage mean smaller profits? For the same position size, no. Leverage changes the margin you post, not the profit or loss per point of price.

Checklist before your next SOL entry:

• Today's range compared with 1/L
• Isolated or cross, chosen on purpose
• A stop that sits well inside the liquidation line
• The funding sign and the next 8h settlement